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I am sure some of you have heard/seen this business model called the cooperative assignment. You sign up a home on an option, then find a tenant buyer that would like to do a lease option on the home. Then you collect the down payment and work with the tenant buyer to cash out the seller down the road. This is basically the same thing as signing up an option and finding a buyer that would like to buy with owner financing. My question is, what happens if your you tenant buyer/ buyer stops making payments? are you responsible? if they trash the place are you responsible to make repairs since you found the buyer?
jackie this is similar to doing a highest bidder sale with owner financing. When you just find the buyer and do not stay in the deal are you responsible for anything after that point? How do you explain this to the seller?
thanks
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